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Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?


To: TheLineMan who wrote (3670)1/14/2000 1:05:00 AM
From: Rich Wolf  Read Replies (1) | Respond to of 4140
 
WRONG again, line-man... The LEAST they convert at is $3/sh, and likely much higher. Read it for yourself, again:

<< The financing vehicle is convertible debentures that carry a 7% per annum coupon for a term of two and a half years. They convert at the option of the investors at a price set at a discount of 25% to the average of the 10 lowest closing bid prices for the Company's common stock in February 2000. The conversion price will not be above $13.67 or below $3.00. >>

They'll probably hold and collect 7% more shares per year, rather than convert any time soon, unless the price falls below the mid-teens for any period of time.

You really are short a ton, aren't you?

Spreading disinformation, TSK-TSK, what did your mother teach you about that? SHAME!



To: TheLineMan who wrote (3670)1/14/2000 2:48:00 AM
From: PerryA  Respond to of 4140
 
Re: "The most they [Lehman] have to pay for the shares on conversion is $13 and a half bucks. If the price falls below that they get it at 25% discount. . . . If I was Lehman I would short the stock now and lock in my mega-profits now."

If the most they have to pay is $13.50, why would they want to short the stock? If the stock is $27, they get a 50% discount; if the stock is $54, they get a 75% discount.

Good luck tomorrow.

Regards,
PerryA